Voice Biometrics Market
Voice Biometrics Market Forecasts to 2028 – Global Analysis By Technology (Artificial Intelligence-Based, Non AI Based), Application (Access Security, Payments), End User (Military, Education) and By Geography
According to Stratistics MRC, the Global Voice Biometrics Market is accounted for $1.10 billion in 2020 and is expected to reach $4.99 billion by 2028 growing at a CAGR of 20.8% during the forecast period. Factors such as rising threat to security, growing demand for voice authentication, and growing need to reduce authentication costs are driving the growth of the market. However, high cost and privacy concerns are hampering the growth of the market.
Biometrics technology supports to recognize and validate the identity of an individual through physiological or behavioral uniqueness. The voice biometrics technology recognizes a person without any physical contact through the help of the system. This is done by comparing the recorded voice of the person with previously stored data in the system of the same person. Various voice recorders are utilized for this purpose.
Based on the end user, the healthcare and life sciences segment is anticipated to expand at a rapid pace during the forecast period as voice biometrics offers enhanced security with fewer false rejections, and has a simple sign up process that doesn’t require strenuous effort. By geography, North America is going to have high growth during the forecast period which can be attributed to the strong focus on research and development for technological advances and implementation of the same.
Some of the key players profiled in the Voice Biometrics Market include Voice Biometrics Group, Nuance Communications Inc, LexisNexis Risk Solutions Inc, Pindrop Security Inc, Auraya Systems Pty. Ltd, NICE Ltd, One Vault SA, VoicePIN.com Sp. z o.o., Verint Systems Inc, Uniphore Software Systems Pvt. Ltd, Aimbrain Solutions Ltd, Phonexia Ltd, Lumen Vox LLC (Voice Trust GmBH), Aculab Inc, and SESTEK.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 1.10 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
20.8% |
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Predicted 2028 Value: |
USD 4.99 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
345 |
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Chapters Covered: |
Component, Deployment Mode, Organization Size, Authentication Process, Type, Technology, Application, End User and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Components Covered:
• Hardware
• Solutions
• Services
Deployment Modes Covered:
• Cloud
• On-Premises
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SME's)
• Large Enterprises
Authentication Processes Covered:
• Automated Interactive Voice Response (IVR)
• Mobile Applications
• Employee Authentication
• Agent-Assisted
Types Covered:
• Active Voice Biometrics
• Passive Voice Biometrics
Technologies Covered:
• Artificial Intelligence-Based
• Non-Artificial Intelligence Based
Applications Covered:
• Forensic Voice Analysis and Criminal Investigation
• Workforce Management
• Risk and Emergency Management
• Access Security
• Payments
• Other Applications
End Users Covered:
• Banking, Financial Services and Insurance (BFSI)
• Government
• Military and Defense
• IT and Telecom
• Energy and Utilities
• Retail and E-Commerce
• Automotive
• Travel and Hospitality
• Healthcare and Life Sciences
• Transportation and Logistics
• Enterprise
• Consumer Electronics & Mobile Devices
• Manufacturing
• Media and Entertainment
• Education
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Voice Biometrics Market is majorly driven by rising threat to security, growing demand for voice authentication, and growing need to reduce authentication costs.
The healthcare and life sciences segment is growing at a highest CAGR as voice biometrics offers enhanced security with fewer false rejections.
North America dominated with a significant market share due to the strong focus on research and development for technological advancements and implementation of the same.
Asia Pacific market is growing at a highest CAGR owing to the rising need for preventing criminal activities in the region.
Key players in Voice Biometrics Market include Voice Biometrics Group, Nuance Communications Inc, LexisNexis Risk Solutions Inc, Pindrop Security Inc, Auraya Systems Pty. Ltd, NICE Ltd, One Vault SA, VoicePIN.com Sp. z o.o., Verint Systems Inc, Uniphore Software Systems Pvt. Ltd, Aimbrain Solutions Ltd, Phonexia Ltd, Lumen Vox LLC (Voice Trust GmBH), Aculab Inc, and SESTEK.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Voice Biometrics Market, By Component
5.1 Introduction
5.2 Hardware
5.3 Solutions
5.3.1 Software
5.3.2 Platform
5.4 Services
5.4.1 Managed Services
5.4.2 Professional Services
5.4.2.1 System Integration and Implementation
5.4.2.2 Training and Education
5.4.2.3 Consulting
5.4.2.4 Support and Maintenance
6 Global Voice Biometrics Market, By Deployment Mode
6.1 Introduction
6.2 Cloud
6.3 On-Premises
7 Global Voice Biometrics Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises (SME's)
7.3 Large Enterprises
8 Global Voice Biometrics Market, By Authentication Process
8.1 Introduction
8.2 Automated Interactive Voice Response (IVR)
8.3 Mobile Applications
8.4 Employee Authentication
8.5 Agent-Assisted
9 Global Voice Biometrics Market, By Type
9.1 Introduction
9.2 Active Voice Biometrics
9.3 Passive Voice Biometrics
10 Global Voice Biometrics Market, By Technology
10.1 Introduction
10.2 Artificial Intelligence-Based
10.3 Non-Artificial Intelligence Based
11 Global Voice Biometrics Market, By Application
11.1 Introduction
11.2 Forensic Voice Analysis and Criminal Investigation
11.3 Workforce Management
11.4 Risk and Emergency Management
11.5 Access Security
11.5.1 Authentication and Customer Verification
11.5.2 Fraud Detection and Prevention
11.6 Payments
11.6.1 Transaction Processing
11.6.2 Speech Enabled Password Reset
11.7 Other Applications
11.7.1 Vocal Passphrase
11.7.2 Speech Therapy
11.7.3 Personalized User Experience
12 Global Voice Biometrics Market, By End User
12.1 Introduction
12.2 Banking, Financial Services and Insurance (BFSI)
12.3 Government
12.4 Military and Defense
12.5 IT and Telecom
12.6 Energy and Utilities
12.7 Retail and E-Commerce
12.8 Automotive
12.9 Travel and Hospitality
12.10 Healthcare and Life Sciences
12.11 Transportation and Logistics
12.12 Enterprise
12.13 Consumer Electronics & Mobile Devices
12.14 Manufacturing
12.15 Media and Entertainment
12.16 Education
13 Global Voice Biometrics Market, By Geography
13.1 Introduction
13.2 North America
13.2.1 US
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 Italy
13.3.4 France
13.3.5 Spain
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Australia
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.1 Argentina
13.5.2 Brazil
13.5.3 Chile
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.2 UAE
13.6.3 Qatar
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.4 Expansions
14.5 Other Key Strategies
15 Company Profiling
15.1 Voice Biometrics Group
15.2 Nuance Communications Inc
15.3 LexisNexis Risk Solutions Inc
15.4 Pindrop Security Inc
15.5 Auraya Systems Pty. Ltd
15.6 NICE Ltd
15.7 One Vault SA
15.8 VoicePIN.com Sp. z o.o.
15.9 Verint Systems Inc
15.10 Uniphore Software Systems Pvt. Ltd
15.11 Aimbrain Solutions Ltd
15.12 Phonexia Ltd
15.13 Lumen Vox LLC (Voice Trust GmBH)
15.14 Aculab Inc
15.15 SESTEK
List of Tables
1 Global Voice Biometrics Market Outlook, By Region (2019-2028) ($MN)
2 Global Voice Biometrics Market Outlook, By Component (2019-2028) ($MN)
3 Global Voice Biometrics Market Outlook, By Hardware (2019-2028) ($MN)
4 Global Voice Biometrics Market Outlook, By Solutions (2019-2028) ($MN)
5 Global Voice Biometrics Market Outlook, By Software (2019-2028) ($MN)
6 Global Voice Biometrics Market Outlook, By Platform (2019-2028) ($MN)
7 Global Voice Biometrics Market Outlook, By Services (2019-2028) ($MN)
8 Global Voice Biometrics Market Outlook, By Managed Services (2019-2028) ($MN)
9 Global Voice Biometrics Market Outlook, By Professional Services (2019-2028) ($MN)
10 Global Voice Biometrics Market Outlook, By Deployment Mode (2019-2028) ($MN)
11 Global Voice Biometrics Market Outlook, By Cloud (2019-2028) ($MN)
12 Global Voice Biometrics Market Outlook, By On-Premises (2019-2028) ($MN)
13 Global Voice Biometrics Market Outlook, By Organization Size (2019-2028) ($MN)
14 Global Voice Biometrics Market Outlook, By Small and Medium-Sized Enterprises (SME's) (2019-2028) ($MN)
15 Global Voice Biometrics Market Outlook, By Large Enterprises (2019-2028) ($MN)
16 Global Voice Biometrics Market Outlook, By Authentication Process (2019-2028) ($MN)
17 Global Voice Biometrics Market Outlook, By Automated Interactive Voice Response (IVR) (2019-2028) ($MN)
18 Global Voice Biometrics Market Outlook, By Mobile Applications (2019-2028) ($MN)
19 Global Voice Biometrics Market Outlook, By Employee Authentication (2019-2028) ($MN)
20 Global Voice Biometrics Market Outlook, By Agent-Assisted (2019-2028) ($MN)
21 Global Voice Biometrics Market Outlook, By Type (2019-2028) ($MN)
22 Global Voice Biometrics Market Outlook, By Active Voice Biometrics (2019-2028) ($MN)
23 Global Voice Biometrics Market Outlook, By Passive Voice Biometrics (2019-2028) ($MN)
24 Global Voice Biometrics Market Outlook, By Technology (2019-2028) ($MN)
25 Global Voice Biometrics Market Outlook, By Artificial Intelligence-Based (2019-2028) ($MN)
26 Global Voice Biometrics Market Outlook, By Non-Artificial Intelligence Based (2019-2028) ($MN)
27 Global Voice Biometrics Market Outlook, By Application (2019-2028) ($MN)
28 Global Voice Biometrics Market Outlook, By Forensic Voice Analysis and Criminal Investigation (2019-2028) ($MN)
29 Global Voice Biometrics Market Outlook, By Workforce Management (2019-2028) ($MN)
30 Global Voice Biometrics Market Outlook, By Risk and Emergency Management (2019-2028) ($MN)
31 Global Voice Biometrics Market Outlook, By Access Security (2019-2028) ($MN)
32 Global Voice Biometrics Market Outlook, By Authentication and Customer Verification (2019-2028) ($MN)
33 Global Voice Biometrics Market Outlook, By Fraud Detection and Prevention (2019-2028) ($MN)
34 Global Voice Biometrics Market Outlook, By Payments (2019-2028) ($MN)
35 Global Voice Biometrics Market Outlook, By Transaction Processing (2019-2028) ($MN)
36 Global Voice Biometrics Market Outlook, By Speech Enabled Password Reset (2019-2028) ($MN)
37 Global Voice Biometrics Market Outlook, By Other Applications (2019-2028) ($MN)
38 Global Voice Biometrics Market Outlook, By Vocal Passphrase (2019-2028) ($MN)
39 Global Voice Biometrics Market Outlook, By Speech Therapy (2019-2028) ($MN)
40 Global Voice Biometrics Market Outlook, By Personalized User Experience (2019-2028) ($MN)
41 Global Voice Biometrics Market Outlook, By End User (2019-2028) ($MN)
42 Global Voice Biometrics Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2019-2028) ($MN)
43 Global Voice Biometrics Market Outlook, By Government (2019-2028) ($MN)
44 Global Voice Biometrics Market Outlook, By Military and Defense (2019-2028) ($MN)
45 Global Voice Biometrics Market Outlook, By IT and Telecom (2019-2028) ($MN)
46 Global Voice Biometrics Market Outlook, By Energy and Utilities (2019-2028) ($MN)
47 Global Voice Biometrics Market Outlook, By Retail and E-Commerce (2019-2028) ($MN)
48 Global Voice Biometrics Market Outlook, By Automotive (2019-2028) ($MN)
49 Global Voice Biometrics Market Outlook, By Travel and Hospitality (2019-2028) ($MN)
50 Global Voice Biometrics Market Outlook, By Healthcare and Life Sciences (2019-2028) ($MN)
51 Global Voice Biometrics Market Outlook, By Transportation and Logistics (2019-2028) ($MN)
52 Global Voice Biometrics Market Outlook, By Enterprise (2019-2028) ($MN)
53 Global Voice Biometrics Market Outlook, By Consumer Electronics & Mobile Devices (2019-2028) ($MN)
54 Global Voice Biometrics Market Outlook, By Manufacturing (2019-2028) ($MN)
55 Global Voice Biometrics Market Outlook, By Media and Entertainment (2019-2028) ($MN)
56 Global Voice Biometrics Market Outlook, By Education (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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